LLP Audit Services in India
LLP Audit is a crucial compliance requirement under the Limited Liability Partnership Act, 2008, designed to ensure transparency, financial accuracy, and legal accountability in the operations of Limited Liability Partnerships. While LLPs are granted greater flexibility and enjoy fewer compliance burdens compared to private limited companies, they are still mandated to maintain proper books of accounts and undergo an audit if they cross specified threshold limits.
An LLP Audit involves the independent review and verification of financial statements by a qualified Chartered Accountant. This statutory audit helps verify that the LLP’s financial records are accurate, complete, and in compliance with the applicable accounting standards and regulatory norms prescribed under the LLP Act and rules.
The audit process typically includes:
- Verification of books of accounts (income, expenses, assets, liabilities)
- Review of internal controls and accounting policies
- Detection of financial irregularities, if any
- Ensuring compliance with ROC filing requirements
The primary objective of conducting an audit of LLP accounts is to safeguard stakeholders’ interests—be it partners, creditors, or financial institutions—by ensuring the true and fair presentation of the financial position of the LLP.
Moreover, an audited financial report can serve as a key document for seeking bank loans, attracting investors, or complying with requirements under other laws such as Income Tax Act and GST Act, depending on the nature of the business.
The requirement for a statutory audit for LLP depends on its turnover and contribution:
- If the annual turnover exceeds ₹40 lakhs, OR
- If the capital contribution exceeds ₹25 lakhs
Then it is mandatory to conduct an audit of LLP accounts.
Only a Practicing Chartered Accountant (CA) is eligible to conduct an audit of LLP accounts.
Choosing the right audit partner is critical for ensuring timely compliance, accurate reporting, and financial transparency. Here’s the reason why trust us for their LLP audit needs being CA firm In Pune:
- Experienced CA Team
Our audits are conducted by a team of qualified and experienced Chartered Accountants who specialize in LLP compliance and statutory audit services. - Tailored Solutions
We understand that every LLP is different. Our audit process is tailored to suit the size, industry, and financial complexity of your business. - End-to-End Support
From documentation and ledger review to Form 8 filing with the ROC, we provide complete audit support. - Timely Delivery
We ensure that your audit is completed well before the due date, helping you avoid late fees and penalties. - Pan-India Services
Whether your LLP is registered in Pune, or anywhere in India, our virtual and on-site audit support is just a click away.
